Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Sells $297,215.52 in Stock

Zoom Video Communications, Inc. (NASDAQ:ZM) CFO Kelly Steckelberg sold 5,007 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $59.36, for a total transaction of $297,215.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kelly Steckelberg also recently made the following trade(s):

• On Wednesday, April 3rd, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $63.39, for a total transaction of $317,393.73.
• On Wednesday, March 20th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The stock was sold at an average price of $66.46, for a total transaction of $332,765.22.
• On Wednesday, March 6th, Kelly Steckelberg sold 5,007 shares of Zoom Video Communications stock. The shares were sold at an average price of $67.08, for a total value of $335,869.56.

Zoom Video Communications Stock Down 0.8 %

Shares of ZM stock opened at $59.45 on Friday. Zoom Video Communications, Inc. has a fifty-two week low of $58.87 and a fifty-two week high of $75.90. The firm’s 50 day moving average price is $64.82 and its two-hundred day moving average price is $65.94. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of 29.14 and a beta of -0.07.

Zoom Video Communications (NASDAQ:ZM) last posted its earnings results on Monday, February 26th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.34. Zoom Video Communications had a net margin of 14.08% and a return on equity of 9.68%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, equities analysts forecast that Zoom Video Communications, Inc. will post 2.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Zoom Video Communications

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings in Zoom Video Communications by 61.0% in the 1st quarter. Renaissance Technologies LLC now owns 6,449,306 shares of the company’s stock worth $756,052,000 after acquiring an additional 2,444,294 shares during the period. Norges Bank purchased a new position in shares of Zoom Video Communications in the fourth quarter valued at $164,224,000. Acadian Asset Management LLC grew its holdings in Zoom Video Communications by 639.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,629,081 shares of the company’s stock valued at $113,916,000 after purchasing an additional 1,408,908 shares in the last quarter. Vanguard Group Inc. increased its stake in Zoom Video Communications by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,695,541 shares of the company’s stock worth $1,587,326,000 after buying an additional 1,000,005 shares during the period. Finally, ARK Investment Management LLC increased its stake in Zoom Video Communications by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 10,964,576 shares of the company’s stock worth $788,463,000 after buying an additional 781,663 shares during the period. Institutional investors and hedge funds own 66.54% of the company’s stock.

Analysts Set New Price Targets

ZM has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Zoom Video Communications in a report on Tuesday, February 27th. Mizuho reduced their target price on shares of Zoom Video Communications from $100.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. BNP Paribas cut shares of Zoom Video Communications from a “neutral” rating to an “underperform” rating and set a $60.00 price target on the stock. in a research note on Thursday, January 18th. Rosenblatt Securities raised shares of Zoom Video Communications from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Zoom Video Communications from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $77.56.

Zoom Video Communications Company Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.